NetApp (NTAP) Slammed Following Light Q1 Results, Outlook
Tweet
Share
E-mail
Get Alerts NTAP Hot Sheet
Price: $192.27 -0.28%
EPS Growth %: +36.1%
Financial Fact:
Total other expense, net: 0
Today's EPS Names:
BTTX, VAXX, ELYS, More
EPS Growth %: +36.1%
Financial Fact:
Total other expense, net: 0
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Shares of NetApp (Nasdaq: NTAP) are getting crushed after hours Wednesday following its first-quarter earnings results and outlook.
Revenue increased over a marathon, that is, 26.3 percent, from $1.154 billion last year to $1.458 billion. The Street was looking for revenue of $1.51 billion.
Net income in the quarter fell 7.4 percent to $139.5 million, or 34 cents per share. Adjusting for certain items, earnings rose to 55 cents per share, which was in-line with consensus views.
"Despite the challenging macroeconomic environment modestly impacting our revenue growth, NetApp still produced earnings per share slightly above the midpoint of our targeted range," CEO Tom Georgens.
Looking ahead, NetApp sees second-quarter 2012 revs of $1.5 to $1.6 billion with non-GAAP earnings of 58 to 62 cents per share. The Street is looking for revs of $1.62 billion and earnings of 60 cents per share.
Shares are down 14.2 percent in late trading Wednesday.
Revenue increased over a marathon, that is, 26.3 percent, from $1.154 billion last year to $1.458 billion. The Street was looking for revenue of $1.51 billion.
Net income in the quarter fell 7.4 percent to $139.5 million, or 34 cents per share. Adjusting for certain items, earnings rose to 55 cents per share, which was in-line with consensus views.
"Despite the challenging macroeconomic environment modestly impacting our revenue growth, NetApp still produced earnings per share slightly above the midpoint of our targeted range," CEO Tom Georgens.
Looking ahead, NetApp sees second-quarter 2012 revs of $1.5 to $1.6 billion with non-GAAP earnings of 58 to 62 cents per share. The Street is looking for revs of $1.62 billion and earnings of 60 cents per share.
Shares are down 14.2 percent in late trading Wednesday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Is the global equity rally broadening? UBS weighs in
- Deutsche Bank monitors UK auto sales as Chinese exports grow
Create E-mail Alert Related Categories
Corporate News, EarningsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
